TrustCo Bank Corp NY (NASDAQ:TRST) Hits New 12-Month High - Still a Buy?

Key Points

• TrustCo's stock hit a new 52-week high of $48.45 (last $48.2050) and is trading above its 50- and 200-day moving averages ($44.75 and $42.87), with a market cap around $832 million and a P/E of about 13.9.
• The company pays a quarterly dividend of $0.38 (annualized $1.52), yielding 3.2% with a payout ratio near 44.6%, indicating a moderately sustainable payout.
• Institutional investors own 68.57% of the stock, and several firms boosted or initiated positions in Q1—most notably Fifth Third Bancorp, which increased its stake substantially—signaling rising institutional interest.

TrustCo Bank Corp NY (NASDAQ:TRST - Get Free Report)'s stock price hit a new 52-week high during mid-day trading on Monday . The stock traded as high as $48.45 and last traded at $48.2050, with a volume of 5169 shares trading hands. The stock had previously closed at $48.06.

TrustCo Bank Corp NY Trading Down 1.1%

The company has a 50-day moving average of $44.75 and a 200-day moving average of $42.87. The company has a market capitalization of $832.11 million, a price-to-earnings ratio of 13.94 and a beta of 0.60.

TrustCo Bank Corp NY Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, April 1st. Shareholders of record on Friday, March 6th were paid a dividend of $0.38 per share. This represents a $1.52 annualized dividend and a yield of 3.2%. The ex-dividend date was Friday, March 6th. TrustCo Bank Corp NY's payout ratio is presently 44.57%.

Institutional Trading of TrustCo Bank Corp NY

Several large investors have recently added to or reduced their stakes in the company. Fifth Third Bancorp grew its stake in TrustCo Bank Corp NY by 758.8% during the 1st quarter. Fifth Third Bancorp now owns 4,414 shares of the bank's stock valued at $193,000 after purchasing an additional 3,900 shares during the last quarter. Y Intercept Hong Kong Ltd purchased a new stake in TrustCo Bank Corp NY during the 1st quarter valued at about $446,000. Patriot Financial Group Insurance Agency LLC purchased a new stake in TrustCo Bank Corp NY during the 1st quarter valued at about $221,000. Janney Montgomery Scott LLC grew its stake in TrustCo Bank Corp NY by 11.6% during the 1st quarter. Janney Montgomery Scott LLC now owns 5,623 shares of the bank's stock valued at $246,000 after purchasing an additional 585 shares during the last quarter. Finally, Retirement Planning Group LLC NY grew its stake in TrustCo Bank Corp NY by 9.2% during the 1st quarter. Retirement Planning Group LLC NY now owns 5,501 shares of the bank's stock valued at $243,000 after purchasing an additional 463 shares during the last quarter. Hedge funds and other institutional investors own 68.57% of the company's stock.

About TrustCo Bank Corp NY

TrustCo Bank Corp. NY NASDAQ: TRST is a bank holding company headquartered in Glens Falls, New York, that provides a full suite of community banking and financial services primarily across upstate New York and western Massachusetts. Through its wholly owned subsidiary, Trustco Bank, the company offers deposit products such as checking and savings accounts, as well as consumer, residential mortgage, and commercial lending solutions. Additional services include wealth management, trust administration, and insurance products tailored to the needs of individuals, businesses and nonprofit organizations.

Founded in 1902 as the Glens Falls Trust Company, TrustCo Bank has grown steadily through organic branch expansion and acquisitions of locally based banks.

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